Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,239 shares of the medical research company’s stock after selling 513 shares during the period. Bath Savings Trust Co’s holdings in Thermo Fisher Scientific were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cypress Advisory Group LLC purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $253,000. Intact Investment Management Inc. grew its stake in Thermo Fisher Scientific by 34.0% during the 4th quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company’s stock valued at $1,353,000 after purchasing an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $1,121,000. Independence Bank of Kentucky grew its stake in Thermo Fisher Scientific by 21.0% during the 4th quarter. Independence Bank of Kentucky now owns 3,825 shares of the medical research company’s stock valued at $1,990,000 after purchasing an additional 663 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. grew its stake in Thermo Fisher Scientific by 25.1% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 2,870 shares of the medical research company’s stock valued at $1,493,000 after purchasing an additional 576 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,075 shares of company stock valued at $7,305,942 over the last quarter. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $403.13 on Friday. The business’s 50 day moving average is $433.07 and its two-hundred day moving average is $501.01. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month high of $627.88. The company has a market capitalization of $152.18 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.99 and a beta of 0.82. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. During the same quarter in the prior year, the firm earned $5.11 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TMO shares. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup lowered their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Morgan Stanley upped their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays lowered their target price on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $607.43.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.